XAU/USD 1H - I am in prep of buying into this market after price trading us down to clear the gap in the market and the OB that was just below that. We have means to trade this market bullish now, its just a case of waiting for an entry.
Price traded down, rejected well and broke structure to the upside, telling us that enough Demand has been introduced to flip the balance in the market. I now want price to pullback fractally to give us a refined entry.
Price pulling back into our fractal area of Demand gives us another piece of confluence, it tells us that price is putting in clear bullish structure protecting the lows and breaking the highs.
By price pulling back down, its giving us a more refined entry with a better RR, setting our SL just below the zone we get involved in and our TP just below the last higher timeframe high.
Price traded down, rejected well and broke structure to the upside, telling us that enough Demand has been introduced to flip the balance in the market. I now want price to pullback fractally to give us a refined entry.
Price pulling back into our fractal area of Demand gives us another piece of confluence, it tells us that price is putting in clear bullish structure protecting the lows and breaking the highs.
By price pulling back down, its giving us a more refined entry with a better RR, setting our SL just below the zone we get involved in and our TP just below the last higher timeframe high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.